European Union says investment deal with China 'urgent'

Postado Mai 18, 2017

As many as 28 heads of state and government, over 50 leaders of global organisations, over 100 ministerial-level officials, as well as over 1,200 delegates from various countries and regions will participate in the forum.

Several European countries are refusing to sign a trade statement at China's Silk Road summit, a diplomat said today, dealing a setback to Beijing's efforts to gain full support for its initiative.

He also pledged $8bn in aid to developing countries and global organization along the belt and road for education and humanitarian work.

Xi said the Belt and Road Initiative has "no political agenda" and was meant to be an "open and inclusive platform for development".

China maintains neutrality on the Kashmir dispute between India and Pakistan.

Skirting any references to India's absence at the meeting, Xi had said, "All countries should respect each other's sovereignty, dignity and territorial integrity, each other's development paths and social systems, and each other's cores interests and major concerns".

President Donald Trump was scathing about China's trade policies on the campaign trail, but relations have warmed in recent weeks as the USA leader softens his stance.

A second forum will be held in 2019, Chinese President Xi Jinping told a news conference after the event ended. She said China always followed the principle of extensive consultation with other countries on the project over which India has sovereignty concerns.

Pakistani Prime Minister Nawaz Sharif and Serbian Prime Minister Aleksandar Vucic were also among those in attendance.

He said deep-seated problems in global development had yet to be addressed effectively, with worldwide trade and investment sluggish, and economic globalisation encountering headwinds.

"The Belt and Road programme should entrench this role further but until now it has been mostly a catchy phrase to go along with talk about China's global economic strategy".

The US economy will also benefit from OBOR, suggested Chinese state media.

Almost four years later, the plan came to a crucial juncture this past weekend with the Belt and Road Forum for International Cooperation.

US companies are ready to get involved in China's Silk Road project, an American official said on Sunday, as Washington strikes an increasingly cooperative tone with its biggest trade rival.

At the opening of the meeting on Sunday, Chinese President Xi Jinping pledged to pump an extra $124 billion into the China-bankrolled project, which involves a huge network of ports, railways, roads and industrial parks. Since jettisoning the Trans-Pacific Partnership - the Obama administration's trade treaty meant to insinuate the U.S. at the center of Asian trade - the Trump administration has offered no answer to One Belt, One Road.